QuickBooks Online Review 2024: Features, Pros & Cons

Share on facebook
Share on twitter
Share on linkedin

Other helpful features in Plus are budgets, classes, customer types, locations, and unlimited report-only users. Meanwhile, Essentials gives you access to more than 40 reports, including those you can generate in Simple Start. You can drill down to a list of your outstanding invoices instead of only the total outstanding.

  • The QuickBooks Simple Start plan costs $30 per month and supports one user.
  • A lot of the features might not be relevant to you, such as payroll or managing 1099 contractors.
  • Ordering too much inventory can be a costly mistake if it sits on the shelf for too long and depreciates or, even worse, expires.
  • The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities.
  • Access your account via the cloud for up to 25 users with the Online version, and pay an additional fee per user, up to 40 users, for cloud access with Desktop.

37% faster based off of internal tests comparing QuickBooks Online regular invoice workflow with QuickBooks Online Advanced multiple invoice workflow. Some of Xero’s plans cost less than QuickBooks’ plans, but most do not. Xero’s plans cost $13, $37, and $70 per month, compared to the QuickBooks $20, $30, and $60 per month plans. However, the “Secure” brand of checks offer in-depth fraud protection measures that may justify the price, provided you anticipate security risks at your business. Also available from the service is a lending program called QuickBooks Capital.

After you answer a few basic questions, you can then start adding your employees. Here, you’ll add their information and pay rate along with withholdings, deductions, and other information. After that, you can add your worker’s comp policy and set up your payroll taxes.

Be sure to include yourself and anyone filling or counting inventory, and maybe even your accountant. The service gives businesses the option to include a “pay now” button on their invoices so their clients don’t have to visit a separate law firm bookkeeping 101 page to put in their bank or credit card information. From there, the customer’s money will be deposited into the business’s account the next day, and the business will be notified as soon as clients view the invoice or pay it.

When you might choose QuickBooks Desktop instead

QuickBooks Simple Start is best for businesses that are just starting out and need a basic way to manage their accounting but don’t need multiple users or features such as inventory and project management. QuickBooks Essentials is best for small businesses that are starting to grow and need up to three users and time tracking. QuickBooks Plus is the most popular plan for businesses as it includes key features such as inventory, project management, and support for up to five users. QuickBooks Advanced is for larger businesses requiring up to 25 users and more advanced reporting and support. QuickBooks offers this link to current credit card processing fees and terms, which includes QuickBooks Online credit card transaction pricing for “non-monthly” $0 QuickBooks Online Payments plans.

You can set up a chart of accounts with an unlimited number of accounts to meet the needs of your business. You’ll be able to access the account anywhere with an internet connection. Customer Support is included and available via live chat and email. QuickBooks Self-Employed is a major upgrade for those who are currently tracking in Excel, storing receipts in shoeboxes, or have no system of organizing their business finances for Schedule-C form filing. Accurate Books Guarantee is only available for active customers of QuickBooks Live Monthly Bookkeeping who have provided their current business tax return.

QuickBooks Payments – GoPayment  and Gmail Plug-In Transaction Fees

QuickBooks Online offers more features on the go and is a better overall value than QuickBooks Desktop. If you don’t need the advanced features offered by the Desktop plan, the Online version will save you money. QuickBooks Desktop is a good choice if you need specialized features such as inventory tracking or forecasting, and you don’t mind paying more for them. However, QuickBooks Online will suffice for most small businesses. Access your account via the cloud for up to 25 users with the Online version, and pay an additional fee per user, up to 40 users, for cloud access with Desktop.

QuickBooks Payments – Miscellaneous Intuit Merchant Services Fees

This service uses your existing QuickBooks Online accounting information to determine your eligibility for a loan. If you choose this funding option, there are no origination fees and no prepayment fees, but you will be expected to make weekly payments plus APR. Payments vary based on your loan amount, credit score, and term length. QuickBooks is a great accounting software option but how much will QuickBooks Online actually cost you? Our QuickBooks pricing guide covers costs, extra fees, plan differences, and more.

Equipment fees may apply to certain payment hardware and software, as described at QuickBooks Point of Sale and QuickBooks GoPayment. We explain how to accept payments through QuickBooks in this linked article. This article covers fees and costs for QuickBooks Online (QBO), QuickBooks Desktop (QBDT), and QuickBooks Online Point of Sale users in the United States. It’s organized by each software platform and type of fee that you incur when using QuickBooks Payments. If you’re buying QuickBooks software or QuickBooks Payments from an international location, look for the Intuit Standard Pricing schedule for your country. A lot of the features might not be relevant to you, such as payroll or managing 1099 contractors.

QuickBooks Online Plans Comparison: Pricing & Features

A 30-day free trial is available if you’d like to test out QuickBooks Online Payroll before signing up. Along with a point of sale platform and payment processing, Square also offers a payroll service. If you are only paying independent contractors, you pay $6/month per contractor on your payroll. If you have employees as well, you pay $35/month plus $6 per employee/month. QuickBooks Payments doesn’t offer support for businesses accepting transactions outside of normal working hours.

Its highest-tiered plan is the Advanced option, which costs $100 per month for the first three months, then $200 per month after that. QuickBooks Simple Start is the most basic of all QuickBooks plans, is best suited for startup businesses, gives access to a single user, and meets basic bookkeeping needs. QuickBooks Essentials works best for the businesses that have heavy accounts payable and gives access to three users at the same time. Finally, QuickBooks Online Plus Plan offers most features and works well for large businesses giving access to five users. If you have more questions, you can visit our Online FAQs support to know more about frequent ask questions. All of these small costs can add up, making your end bill higher than the predictable $30-$200/month fee.

What is inventory management software?

One final thing to note is that budget shouldn’t be the only determining factor in selecting your payroll software. Software with more advanced features, such as ADP, might be a better fit, so make sure to do your research before deciding which payroll option is right for your business. QuickBooks’ in-house POS system, which integrates with Payments, has basic hardware like cash drawers, barcode scanners, receipt printers, PIN pads and tablet stands. These options are sufficient for some small retail businesses, but not those with more complicated requirements.